Poloniex LaunchBase is a token launching platform that aims to help quality blockchain projects grow and further develop their ecosystem. The platform was created by Poloniex, a cryptocurrency exchange that has collaborated with dozens of quality blockchain projects over the past six years. LaunchBase provides an opportunity for these projects to raise funds and gain exposure to a wider audience.
Understanding Poloniex LaunchBase is important for anyone interested in investing in new blockchain projects. The platform offers a range of fixed-term and fixed-income products, including the EARN suite tokens, which offer subscribers principal and yields on maturity date. The first product in the EARN suite is USDTEARN1, a 90-day fixed-income product with an APY of 8% and a total supply of 5,000,000.
Registration and account set-up are required to participate in the Poloniex LaunchBase token sale process. Security measures are in place to ensure that users’ personal information and funds are protected. Understanding tokens is another important aspect of participating in the token sale process, as different tokens may have different properties and uses.
Key Takeaways
- Poloniex LaunchBase is a token launching platform that helps quality blockchain projects grow and develop.
- The platform offers a range of fixed-term and fixed-income products, including the EARN suite tokens.
- Registration and account set-up are required to participate in the token sale process, and security measures are in place to protect users’ personal information and funds.
Understanding Poloniex LaunchBase
Poloniex LaunchBase is a token launching platform created by Poloniex, a leading cryptocurrency exchange. The platform was designed to help quality blockchain projects grow and further develop their ecosystem.
LaunchBase provides a range of benefits to blockchain projects, including access to Poloniex’s user base and marketing resources, as well as support for fundraising and token distribution. By working with LaunchBase, blockchain projects can gain exposure and support from a large and active cryptocurrency community.
To participate in LaunchBase’s token sales, users need to first log in to their Poloniex account and meet the purchase criteria and conditions. These include completing ID verification (KYC) and meeting the minimum purchase amount for the particular token sale.
LaunchBase has already completed several successful token sales, including the JUST project, which raised over $6 million in just two hours. Poloniex has a strong track record of supporting successful blockchain projects, and LaunchBase is no exception.
Overall, LaunchBase is an exciting new platform that provides a range of benefits to blockchain projects and users alike. By leveraging the resources and expertise of Poloniex, LaunchBase is helping to drive the growth and development of the cryptocurrency ecosystem.
| Entity | Description |
|---|---|
| Poloniex | A leading cryptocurrency exchange |
| LaunchBase | A token launching platform created by Poloniex |
| Platform | A software or hardware system that provides a specific service or functionality |
| Cryptocurrency exchanges | Platforms that allow users to buy, sell, and trade cryptocurrencies |
| Poloniex LaunchBase | A specific platform created by Poloniex for launching new tokens |
Registration and Account Set-Up
To start using Poloniex LaunchBase, users must first register for a Poloniex account. Registration is free, and users can create an account by visiting the Poloniex website and clicking on the “Sign Up” button. Users will then be prompted to enter their email address and create a password.
Once registered, users can log in to their Poloniex account and complete the KYC verification process. This process is mandatory for all Poloniex users and is designed to ensure that the platform remains compliant with relevant regulations.
KYC Verification
To complete the KYC verification process, users must provide a valid government-issued ID, such as a passport or driver’s license. They will also need to provide proof of address, such as a utility bill or bank statement.
Poloniex’s KYC verification process is designed to be as simple and straightforward as possible. Users can complete the process quickly and easily by following the instructions provided on the Poloniex website.
Once users have completed the KYC verification process, they will be able to use all of the features and functions of the Poloniex LaunchBase platform. This includes participating in token sales and other fundraising events, as well as accessing a range of other tools and services designed to help them manage their cryptocurrency investments.
Overall, the registration and account set-up process for Poloniex LaunchBase is designed to be quick, easy, and user-friendly. With a few simple steps, users can create a Poloniex account, complete the KYC verification process, and start using the platform to manage their cryptocurrency investments.
Security Measures
Poloniex takes account security seriously and has implemented several measures to ensure user safety. Here are some of the security measures in place:
Two-Factor Authentication
Poloniex offers two-factor authentication (2FA) as an additional layer of security to protect user accounts. Users can enable 2FA by downloading the Google Authenticator app and scanning the QR code provided by Poloniex. Once enabled, users will need to provide a unique code generated by the app in addition to their password when logging in or making withdrawals.
Enabling 2FA can significantly reduce the risk of unauthorized access to an account, as it requires an additional factor beyond just a password. It is highly recommended that all users enable 2FA on their accounts.
Comparison Table
| Security Measure | Poloniex |
|---|---|
| Two-Factor Authentication | ✔️ |
Overall, Poloniex has taken several steps to ensure the security of user accounts. However, users should also take responsibility for their own account security by enabling 2FA, using strong passwords, and being vigilant for phishing attempts.
Understanding Tokens
TRX and JST Tokens
Poloniex LaunchBase platform uses tokens to facilitate transactions on the platform. The two main tokens used on the platform are TRX and JST tokens. TRX is the native token of the TRON blockchain, and it is used to pay for transactions and smart contract executions on the TRON network. JST is a token issued by the JUST platform, which is built on the TRON network. JST is used for paying interest, platform maintenance, participating in governance through voting, and other activities on the JUST platform.
| Token | Description |
|---|---|
| TRX | Native token of the TRON blockchain, used for transactions and smart contract executions |
| JST | Token issued by the JUST platform, used for various activities on the JUST platform |
USDJ and USDT Stablecoins
The JUST platform also issues two stablecoins, USDJ and USDT, which are pegged to the US dollar. USDJ is generated by collateralizing TRX via JUST’s CDP portal. USDT is issued by Tether, a company that claims to have reserves of US dollars equal to the number of USDT tokens in circulation.
| Stablecoin | Issuer | Peg |
|---|---|---|
| USDJ | JUST | US dollar |
| USDT | Tether | US dollar |
Stablecoins are useful for traders who want to avoid the volatility of cryptocurrencies. They can be used to move funds between exchanges or to hold value during times of market uncertainty.
In summary, understanding the different tokens and stablecoins used on Poloniex LaunchBase is essential for participating in token sales and other activities on the platform. TRX and JST tokens are the main tokens used on the platform, while USDJ and USDT are stablecoins that can be used to hold value during market volatility.
The JUST Project
The JUST project is a decentralized lending platform that aims to build a fair financial system that provides stablecoin lending and governance mechanisms for users around the world. The project was founded by Justin Sun, the founder of TRON, and is powered by the JST token.
Decentralized Lending Platform
The JUST project is a decentralized lending platform where users can stake TRX via JUST’s CDP portal to generate USDJ, a stablecoin pegged to USD at a 1:1 ratio. JST can be used for paying interest, platform maintenance as well as other activities on the blockchain.
The JUST project’s decentralized lending platform provides an alternative to traditional financial institutions, allowing users to lend and borrow funds without the need for intermediaries. By eliminating intermediaries, the JUST project aims to provide lower fees and faster transaction times.
The JUST project’s decentralized lending platform also provides users with greater control over their funds. Users can choose which assets to lend or borrow, and can set their own interest rates. Additionally, the platform is transparent, with all transactions recorded on the blockchain for anyone to see.
Overall, the JUST project’s decentralized lending platform provides a promising alternative to traditional financial institutions, offering users greater control over their funds and lower fees.
| Entity | Description |
|---|---|
| JUST | Decentralized lending platform |
| Justin Sun | Founder of TRON and founder of the JUST project |
| Decentralized Lending Platform | Platform that allows users to lend and borrow funds without intermediaries |
| JUST project | Project powered by the JST token |
| DeFi | Decentralized finance, a movement to create a more open and transparent financial system |
Token Sale Process
To participate in the Poloniex LaunchBase JST Token Sale, users need to first log in to their Poloniex account and meet the following purchase criteria and conditions. The timeline below provides an overview of how the JUST token sale was conducted:
- April 9, 2020 (UTC): Poloniex officially released LaunchBase, a premium token issuance platform, and announced JUST (JST) as its first decentralized stablecoin lending platform.
- April 14, 2020 (UTC): Poloniex began accepting JST purchase orders.
- April 15, 2020 (UTC): The JUST token sale ended, and trading for JST was opened on Poloniex.
To participate in the token sale, users needed to have a verified Poloniex account and meet the minimum purchase requirements. The minimum purchase amount was 500 JST, and the maximum purchase amount was 50,000 JST.
Transaction fees for the token sale were calculated based on the amount of JST purchased. The fee structure was as follows:
| JST Purchased | Fee |
|---|---|
| 500 – 9,999 JST | 10% |
| 10,000 – 19,999 JST | 9% |
| 20,000 – 29,999 JST | 8% |
| 30,000 – 39,999 JST | 7% |
| 40,000 – 49,999 JST | 6% |
| 50,000 JST or more | 5% |
Once the token sale ended, users were able to trade JST on Poloniex. The token sale process was conducted smoothly, and Poloniex ensured that all participants were subject to eligibility and screening requirements to maintain the integrity of the sale.
Comparative Analysis
When it comes to IEO launchpads, Poloniex LaunchBase is not the only player in the market. Other popular IEO launchpads include Binance Launchpad, Huobi, and OKEx. In this section, we will compare Poloniex LaunchBase with these popular IEO launchpads.
Binance Launchpad
Binance Launchpad is one of the most popular IEO launchpads in the market. It has a proven track record of launching successful IEOs, including projects like Fetch.AI, BitTorrent, and Celer Network. Binance Launchpad has a large user base, which means that IEO projects launched on the platform can expect a significant amount of exposure.
One of the key advantages of Binance Launchpad is its native token, BNB. Binance Launchpad requires users to hold BNB to participate in IEOs, which creates demand for the token. This demand has helped BNB maintain a relatively stable price, even during market downturns.
Huobi and OKEx
Huobi and OKEx are two other popular IEO launchpads. Both platforms have launched successful IEOs, including projects like TOP Network, Thunder Token, and MultiVAC. Huobi and OKEx have a large user base, which means that IEO projects launched on the platforms can expect a significant amount of exposure.
One of the key advantages of Huobi and OKEx is their global reach. Both platforms have users from all over the world, which means that IEO projects launched on the platforms can expect a diverse range of investors.
Comparative Table
| Launchpad | Native Token | User Base | Successful IEOs |
|---|---|---|---|
| Poloniex LaunchBase | N/A | Poloniex Users | APENFT (NFT) |
| Binance Launchpad | BNB | Binance Users | Fetch.AI, BitTorrent, Celer Network |
| Huobi | HT | Huobi Users | TOP Network, Thunder Token, MultiVAC |
| OKEx | OKB | OKEx Users | Blockcloud, BitMax, V SYSTEMS |
Overall, Poloniex LaunchBase is a relatively new player in the IEO launchpad market. However, it has already launched a successful IEO and has the potential to attract a significant amount of users from the Poloniex exchange. While it may not have the same level of exposure as some of the more established IEO launchpads, it is still a viable option for projects looking to launch an IEO.
Governance and Future Support
Poloniex LaunchBase takes governance seriously and ensures that the projects listed on the platform follow strict guidelines. The LaunchBase team collaborates closely with projects, community members, and industry-wide partners to seed and promote the adoption of quality cryptocurrencies worldwide. All participants in the LaunchBase token sales are subject to eligibility and screening requirements.
The governance structure of LaunchBase involves a multi-layered approach that includes community voting and advisory committees. The community has a say in which projects are listed on the platform, and advisory committees provide valuable insights and guidance to the LaunchBase team.
In terms of future support, Poloniex LaunchBase is committed to providing ongoing support to the projects listed on the platform. The team works closely with project teams to ensure that they have the resources they need to succeed. This includes technical support, marketing support, and access to the LaunchBase community.
LaunchBase also provides ongoing support to token holders. The platform offers a range of resources to help token holders stay informed about the projects they have invested in. This includes regular updates, community forums, and educational resources.
Overall, Poloniex LaunchBase is committed to providing a high level of governance and future support to the projects listed on the platform. The team works closely with project teams and the community to ensure that LaunchBase remains a trusted and reliable platform for token sales.
| Entity | Description |
|---|---|
| Governance | Multi-layered approach involving community voting and advisory committees. |
| Support | Ongoing support provided to projects listed on the platform, including technical and marketing support. |
| Future | Commitment to providing ongoing support to both projects and token holders. |
Conclusion
In conclusion, Poloniex LaunchBase is a new token launching platform that aims to help quality blockchain projects grow and further develop their ecosystem. With the launch of LaunchBase, Poloniex is expanding its mission to become a comprehensive platform for blockchain projects, offering a range of services to support their growth and development.
LaunchBase has already launched its first project, APENFT, which has garnered the attention of industry experts and investors alike. The platform aims to provide a fair and transparent way for blockchain projects to raise funds and build their communities.
Poloniex has a reputation for being one of the most established cryptocurrency exchanges worldwide, and LaunchBase is a natural extension of their services. The platform is designed to be user-friendly and accessible, with a range of features and tools to help blockchain projects succeed.
Overall, LaunchBase is an exciting new platform for blockchain projects looking to raise funds and build their communities. With its focus on quality projects and transparent processes, it is sure to become a popular choice for blockchain startups and investors alike.
Frequently Asked Questions
What is Poloniex LaunchBase and how does it work?
Poloniex LaunchBase is a token launching platform that allows users to participate in new token offerings. LaunchBase is a curated platform that only lists high-quality projects that have undergone a rigorous selection process. The platform aims to provide a fair and transparent token sale process for both investors and project teams.
How do I participate in Poloniex LaunchBase?
To participate in Poloniex LaunchBase, users must first complete the necessary KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. Once approved, users can participate in the token sale by purchasing tokens with USDT (Tether). The amount of tokens available for purchase and the sale price will vary depending on the project.
What tokens are available on Poloniex LaunchBase?
Poloniex LaunchBase lists a variety of tokens, including both utility and governance tokens. Some of the tokens that have been listed on the platform include APENFT (NFT), JUST (JST), and TRX. The platform aims to list high-quality projects that have a strong team, a clear roadmap, and a solid community.
What are the benefits of using Poloniex LaunchBase?
The benefits of using Poloniex LaunchBase include access to high-quality token offerings, a fair and transparent token sale process, and the ability to participate in new projects before they are listed on other exchanges. Additionally, LaunchBase offers a secure and reliable platform for token sales, with a team of experienced professionals overseeing the process.
Is Poloniex LaunchBase available in the United States?
No, Poloniex LaunchBase is not available to citizens or residents of the United States or certain other jurisdictions. The platform is only available to users in countries where it is legal to participate in token sales.
How does Poloniex LaunchBase compare to other exchange launchpads?
Poloniex LaunchBase distinguishes itself from other exchange launchpads by focusing on quality over quantity. The platform only lists high-quality projects that have undergone a rigorous selection process, ensuring that users have access to the best token offerings. Additionally, LaunchBase offers a fair and transparent token sale process, with a team of experienced professionals overseeing the process.
| Comparison | Poloniex LaunchBase | Other Exchange Launchpads |
|---|---|---|
| Token Quality | High | Varies |
| Token Sale Process | Fair and Transparent | Varies |
| Team Experience | Experienced Professionals | Varies |